Unsaturated Polyester Resins Market Demand, Trends, Growth and Forecast by 2023-2028
IMARC Group, a leading market research company, has recently released a report titled "Unsaturated Polyester Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global unsaturated polyester resins market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Unsaturated Polyester Resins Industry?
According to the report, The global unsaturated polyester resins market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
What is Unsaturated Polyester Resins?
Unsaturated polyester resins (UPR) are thermoset molding resins employed to produce glass fiber-reinforced plastic (FRP) . They condense unsaturated acids or anhydrides with diols. They are known for their high rigidity, improved electrical insulation, excellent surface finish, high tensile and impact strength, exceptional heat and corrosion resistance, and dimensional stability in response to changes in temperature. As a result, unsaturated polyester resins are widely adopted for producing composite materials, laminated panels, wood paints, sanitaryware, corrugated panels, and coatings across the globe.
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What are the growth prospects and trends in the Unsaturated Polyester Resins industry?
The market is primarily driven by the expanding construction industry. In addition, rapid urbanization and rising demand for UPRs for manufacturing pans, doors, electrical boxes, building panels, concrete rebars, and floor grafting are contributing to market growth. Moreover, the widespread product adoption in the marine industry in the production of wind turbine blades, hulls, decks of boats, and land transport components represents another major growth-inducing factor. Besides this, various governments are implementing favorable policies such as foreign direct investment and making in India, which is accelerating the product adoption rate in automotive products. Along with this, the increasing application of UPRs in the chemical industry to produce flooring materials, castings, gel coats, adhesives, composites, and pigment pastes is propelling the market growth. Furthermore, the extensive demand for nonreinforced cross-linked UPRs for automotive repair components and extensive research and development (RD) efforts to improve the physical properties of UPRs are creating a positive market outlook.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Type:
Breakup by End-Use:
Breakup by Form:
Breakup by Region:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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